Spring in Summer

This year the Spring market is occurring in the Summer.

Typically the busiest months for real estate along the Front Range are April, May and June.

This year, because showing activity was restricted in the Spring months, we are seeing robust activity this Summer.

Here’s an indicator.  Sales through July 2020 versus July 2019 are up:

12.6% in Metro Denver

13.7% in Northern Colorado

To see double-digit increases in sales despite was is occurring in the National economy, is nothing short of remarkable.

Posted on July 31, 2020 at 8:30 am
Paul Hunter | Category: About the area, Buyer Tips, Friday Fun Facts, Homes for Sale, Real Estate, Seller Tips | Tagged , , , , , ,

Buyer Contemplation

New research from the National Association of Home Builders:

The number of Americans contemplating purchasing a home in the second quarter of 2020 is nearly the same as 2019’s second quarter, according to NAHB’s Housing Trends Report.

At this time last year, 12% of Americans considered buying a home. Today the number stands at 11%.

The same goes for first-time prospective buyers, where 58% considered buying a home in the second quarter of 2019 and 59% are considering it in 2020’s second quarter.

In the second quarter of 2020, Millennials are the generation most likely to want to buy a home (19%), even slightly higher than a year earlier (17%).

Boomers, on the other hand, are the least likely, with the share planning a home purchase falling from 7% to 5%.

Across regions, the share of respondents who are prospective home buyers is unchanged in the Northeast (10%) and South (12%), essentially flat in the West (13%), and just slightly lower in the Midwest (down from 11% to 9%).

At Windermere Real Estate we are taking Safer at Home and Social Distancing very seriously.  Our people are following our Safe Showings protocol, staying connected to their clients, and providing help wherever needed.

Posted on July 24, 2020 at 10:10 am
Paul Hunter | Category: Buyer Tips, Friday Fun Facts, Homes for Sale, Real Estate, Seller Tips | Tagged , , , , ,

Tight Inventory

The numbers that we find to be most interesting right now are all related to inventory.

Long story short, inventory is tight.

It was already tight pre-coronavirus and now it’s even tighter.

Here are the numbers.

Active properties for sale versus one year ago are down:
11% in Larimer County
20% in Weld County
26% in Metro Denver

This low inventory is one of several reasons that prices are generally still up across the Front Range.
At Windermere Real Estate we are taking Safer at Home and Social Distancing very seriously. Our people are following our Safe Showings protocol, staying connected to their clients, and providing help wherever needed.

Posted on June 12, 2020 at 12:55 pm
Paul Hunter | Category: Buyer Tips, Friday Fun Facts, Homes for Sale, Real Estate, Seller Tips | Tagged , , , , , ,

What the Numbers Say

April represents the first time we can look at the impact of COVID-19 on a full month of real estate activity.

To no one’s surprise, activity in April in terms of closings and new contracts did slow significantly.

Much of this slowing was caused by in person showings not being allowed for most of the month. (showings are now allowed again by following Safe Showings protocols)

Here’s what the numbers say…

Closed transactions were down compared to April 2019
• 26% in Northern Colorado (Larimer & Weld)
• 27% in Metro Denver

New written purchase agreements were down compared to April 2020
• 48% in Northern Colorado
• 44% in Metro Denver

So, while activity did slow, there was nothing resembling a “screeching halt” that took place.
While the way property is shown has certainly changed, the market is still very active and we expect activity to increase even more with showings now being allowed again.

Posted on May 8, 2020 at 12:31 pm
Paul Hunter | Category: Buyer Tips, Friday Fun Facts, Homes for Sale, Real Estate, Seller Tips | Tagged , , , , ,

The Scoop Is Here!

 

Check out our latest quarterly market report, The Scoop! by clicking below. If you have any questions about the data please shoot me an email or give me a call!

The Scoop 4th Quarter 2018

Posted on January 21, 2019 at 2:10 pm
Paul Hunter | Category: About the area, Buyer Tips, Evans Real Estate, Fort Collins Real Estate, Homes for Sale, Investment, Loveland Real Estate, Real Estate, Seller Tips, Wellington Real Estate, Windsor Real Estate | Tagged , , , , ,

Colorado Association of REALTORS Spring Meetings

I am very lucky to have been voted as the Northeast District Chairman for the Colorado Association of REALTORS a year ago, and I was able to fulfill my first duties of that position last week in Vail. We spent 3 days in the beautiful town of Vail, discussing the issues that are affecting our clients throughout the Northeast District (Logan County, Fort Collins, Boulder, Longmont, Greeley, Estes Park, Loveland/Berthoud, and Northern Colorado Commercial).

The Vail Four Seasons – The Conference Was Held Here

There were some interesting take aways, one of which is that in the Denver area, 68% of all housing on the market is above $400,000. Also, they are going to make the criteria for being a managing broker of an office (my position here at Windermere Fort Collins) more stringent. Which I think is a GREAT idea for brokers and you all as clients.

The biggest win that we had so far this year is in regards to construction defects, Colorado House Bill 1279 has passed a preliminary vote which is great news for people who are looking to purchase in the lower end of the market (condos and townhomes). Builders may finally have the ability to build these types of properties which are SO NEEDED with prices increasing so significantly in the last couple of years. So that was great news.

It is a pleasure to serve our State Association, and hopefully this brings back some value to my clients here in Northern Colorado. Have a great week and if you need anything please feel free to give me a call or shoot me an email!

Posted on May 1, 2017 at 1:28 pm
Paul Hunter | Category: Real Estate | Tagged , , , , , ,

How Much Equity Do I Really Have? FIND OUT!

Good morning everyone! The last couple of weeks we have talked about why it continues to be a Sellers market in Northern Colorado (see info below). If you are a Buyer though, remember there ARE opportunities out there!

But the question remains, “I’ve heard how great the market is, but how much money do I REALLY have in my home?” You’re in luck! I would love to show you exactly how much equity you have in your home with a complimentary real estate review. We will talk about the comparable sales in your neighborhood, why and how they affect your value, and how the market changes in general affect your specific home.

Call me, email me, or text me so we can setup a time to review the value of your home. You’ve got nothing to lose but potentially MANY THOUSANDS to gain!

Posted on April 24, 2017 at 1:58 pm
Paul Hunter | Category: About the area, Investment, Real Estate, Seller Tips | Tagged , , , , , , , ,

Friday Fun Facts – Are We In A Bubble?

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A History Lesson

The national homeownership rate is a very interesting statistic to track. It is simply the percentage of households in the country which are owned by the occupant (versus rented).

Did you know that during the 30 years between 1965 and 1995 the homeownership rate stayed between 63% and 66%?

Then everything changed as government policies were put in place to encourage a higher percentage of homeowners. During the housing bubble the rate approached 70%.

As the bubble burst, this percentage fell rapidly and eventually bottomed out at 62.9%. Today it sits at 63.7% which is right inside the range of where it was between 1965 and 1995. As we see it, it’s right where it needs to be.

The fact that the homeownership rate sits at “normal” levels is one of three reasons we don’t see a national housing bubble today.

To check out the video we put together to address this, watch below! 

Posted on April 21, 2017 at 4:12 pm
Paul Hunter | Category: About the area, Buyer Tips, Investment, Real Estate, Seller Tips | Tagged , , , , , ,

The Health Of The NoCo Market

I think by this point if you have been reading my blog, you are pretty well aware that we currently have a very fast moving and healthy real estate market here in Northern Colorado. While it’s all good and well to know this in your gut, let’s take a look at some stats that really prove that point.

If you look back over the last 30 years, the Fort Collins/Loveland appreciation levels have been negative only 6 of those years, 3 of which were during the worst recession of our lifetimes (unless you lived through the Great Depression!). Here are some other interesting statistics that show the health of our market:

  • Fort Collins/Loveland area is # 11 on the top 259 markets for home price appreciation in the country
  • Greeley is #12, Denver is #14, and Boulder is #15 of the top 259 markets
  • Colorado is # 2 (only behind Oregon) for 1 year home price appreciation IN THE COUNTRY! Florida, Washington, and Nevada round out that top 5 list

If you would like to know how all of this good news affects your home’s value or your ability to buy a new home, I would love to talk to you, so give me a call or shoot me an email!

Posted on April 10, 2017 at 2:17 pm
Paul Hunter | Category: About the area, Buyer Tips, Investment, Real Estate, Seller Tips | Tagged , , , , , , , ,

Friday Fun Facts

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The Results Are In!

You’ve probably heard that prices are up in Northern Colorado 🙂

Anohter source just confirmed this.

The Federal Housing Finance Authority recently released their quarterly report on 260 metropolitan markets across the country.

Get this, Colorado has 4 cities ranked in the top 15 for yearly price growth.

Northern Colorado is well-represented on this list.

  • 11th Fort Collins/Loveland
  • 12th Greeley
  • 15th Boulder

By the way, Denver is 14th. And in case you are wondering, Palm Bay Florida is ranked 1st.

All of the Northern Colorado cities have had just over 10% appreciation in the last year meaning that prices are growing at about double the long-term average.

To receive a copy of the full FHFA report, simply email me at phunter@windermere.com and we will get one in your hands right away.

Posted on March 10, 2017 at 11:30 pm
Paul Hunter | Category: About the area, Buyer Tips, Real Estate, Seller Tips | Tagged , , , , , , ,